[New Crypto Chatter]: Nasdaq and Ripple a ‘Match Made in Heaven’, to Launch XRP-Based Crypto Exchange in 2019 per Exclusive Source
New Report Suggests Nasdaq is Launching a Crypto Exchange with XRP Base in 2019
Ripple has been looking for a major exchange to support its XRP token for nearly a year. While exchanges like Coinbase shun Ripple and its XRP token, Ripple might have found the perfect match with Nasdaq.
The partnership between Nasdaq and Ripple has been described as a “match made in heaven” by The ICO Journal in a new report. According to The ICO Journal, which has been researching the story for the past week, there’s a “growing relationship between Ripple and Nasdaq executives” that is blossoming into a successful business partnership.
According to The ICO Journal’s research, Nasdaq is launching a cryptocurrency exchange in early 2019. When that exchange launches, XRP will be one of the featured pairs on the exchange.
“The back and forth has been ongoing for better than four months and $XRP is set to be one of the initial coins listed when Nasdaq launches its crypto exchange in early 2019.”
The foundation of the partnership between Ripple and Nasdaq comes down to market cap, according to The ICO Journal. Executives at Nasdaq:
“are significantly removed from the crypto bubble the remains polarized concerning $XRP and are more interested in listing the largest market cap coins, no matter the narrative that may or may not surround them.”
That’s important, because major exchanges like Coinbase and Gemini have traditionally shied away from Ripple and the XRP token, claiming that it’s not like other cryptocurrencies or that it’s too centralized and too connected to Ripple.
Nasdaq, if The ICO Journal is to be believed, doesn’t care about these issues. They care about market cap, and they see an enormous opportunity to feature XRP as a trading pair.
The ICO Journal cites “two individuals familiar with the Nasdaq crypto talks and one source at Ripple” when they describe the growing partnership between Nasdaq and Ripple.
The ICO Journal, over the past few months, has developed a reputation for finding unusually perfect sources at the opportune times. Earlier this month, the publication made headlines for contacting its unnamed sources at the SEC and Cboe, for example, who claimed that bitcoin ETF approval was a “99% certainty.”
Whether or not The ICO Journal’s sources exist is unclear. However, here’s what their purported “source” at Nasdaq had to say:
“We aren’t interested in the noise. We are interested in scale. If we start this initiative with the top five or seven coins by market capitalization, why would we exclude $XRP? There is no good reason to exclude them, at least the way that we are evaluating our work. Look at it this way – there is just as much noise around Bitcoin Cash as there ever has or ever will be around Ripple’s cryptocurrency. And Bitcoin Cash is listed almost ubiquitously across all exchanges. So we see no reason to exclude $XRP. Instead, we’ve leaned in and embraced what they bring to the table. You really can’t argue that the firm has a top-notch executive team and is as buttoned up as you will find in crypto.”
Another source at Nasdaq emphasized the importance of XRP’s market cap. Last week, XRP surged in value to become the second most valuable cryptocurrency in the world by market cap, beating ETH in the number two position temporarily. Since then, XRP has fallen back into third place – but it’s not far behind ETH, depending on daily price movements.
That high market cap “checks the box” for Nasdaq.
The second Nasdaq source mentioned by The ICO Journal also claims that Ripple’s team has “been extremely forthcoming from a due diligence standpoint and made several different members of their management team available” to Nasdaq at short-term notice.
Meanwhile, The ICO Journal cites an unnamed “Ripple executive” who “confirmed” the discussions with Nasdaq:
“Yes, we’ve been in discussions with Nasdaq around their exchange initiative and have been willing to answer any and all due diligence questions. We believe in what we are doing here, our products and services, and $XRP as well. Nasdaq will ultimately be the final arbiter of who gets listed next year, but we believe we will be firmly in that group. Without giving too much away, the excitement around here for where this is headed is pretty fun to watch. The Nasdaq exchange and custody product is going to be something special.”
If you believe The ICO Journal, then they somehow managed to get in touch with a Ripple executive who was willing to be 100% truthful about a secret business partnership with Nasdaq. Obviously, that mysterious executive had no issues with spilling the beans about the partnership.
It seems unusual, to say the least, that the sources at both Ripple and Nasdaq would be so open to discussing details of a secretive business partnership.
Another unusual thing is that all of The ICO Journal’s sources write in exactly the same way, including with similar sentence structure and grammar.
Is There Really a Growing Partnership Between Nasdaq and Ripple?
Ultimately, The ICO Journal has a habit for finding convenient sources to back up its news stories at opportune times. With this latest article, the online publication claims that a business partnership is blossoming between Nasdaq and Ripple, and they have three unnamed sources at both organizations to prove that Nasdaq and Ripple is a “match made in heaven”.
If you believe The ICO Journal’s latest story, then it seems that Nasdaq is launching a cryptocurrency exchange sometime in early 2019 – and that XRP will be available for trading on that exchange from the very beginning.
As with any unsubstantiated rumors from unnamed sources, take everything here with a grain of salt. We’re growing increasingly skeptical of The ICO Journal’s numerous “sources”.